Article: Torch Offshore Announces Fourth Quarter Earnings, Record Annual Revenues.

Business Editors

NEW ORLEANS--(BUSINESS WIRE)--Feb. 7, 2002

Torch Offshore, Inc. (NASDAQ:TORC)

FOURTH QUARTER RESULTS

Torch Offshore, Inc. (NASDAQ:TORC) announced today that revenues for the quarter ended December 31, 2001 were $14.7 million, a decrease of 7.4 percent compared to revenues of $15.8 million for the fourth quarter of 2000. Gross profit (revenues less cost of sales) for the fourth quarter of 2001 was $3.7 million or 25.5 percent of revenues compared to the fourth quarter 2000 gross profit of $5.1 million or 32.5 percent of revenues. Earnings before nonrecurring charges totaled $0.7 million or $0.05 per diluted share for ...

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